Future Ventures India Limited listed its shares on the BSE and NSE today. The share listed at the BSE at Rs 9.50 and at Rs 9 on the NSE. The high was Rs 9.50 on the BSE and Rs 9.65 on the NSE. The low was Rs 8.20 on the BSE and Rs 8.15 on the NSE. The share after two hours of trading is at Rs 8.40-8.50, down 15%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/loss | Volume | Wt. Avg |
| BSE | 9.50 | 9.50 | 8.20 | 8.40 | -1.60 | -16.00 | 25885447 | 8.83 |
| NSE | 9.00 | 9.65 | 8.15 | 8.40 | -1.60 | -16.00 | 67331496 | 8.83 |
| Total | 93216943 | |||||||
The company had raised Rs 750 crs at a price of Rs 10 and the issue was subscribed by the efforts of HNI’s. The share has been under pressure from the minute it has listed and failed to touch the issue price also at any time. This clearly shows the lack of interest in the share and the faith that investors have in the company.
At 11.30 am the share has seen volumes of 932.16 lac shares which is 12.42% of the IPO size of 7500 lac shares issued by the company. The weighted average of the share is Rs 8.83 which itself is a discount of 11.7% against the issue price of Rs 10. Very clearly one more issue where the price was more than realistic and here the difficulty was that you cannot offer a share at a discount to the face value of the share. Hence Rs 10 was the lowest that the share could be offered at.
This issue could have been brought a little later when it had a NAV which was not at a discount to the issue price or the company had started generating profits at the net level.
Anyway its too late for all of this. The share is trading at Rs 8.40 which is a loss of R 1.60 or 16%. Indeeed it’s a sad reflection on the company and the share performance.
